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๐Ÿ“ˆ Daily TA: IOTA/USD | 10-10-2021

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cryptospa
@cryptospa
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Hodl, dear members of LeoFinance!

Today I would like to comment on the price chart of IOTA.

In the daily chart (1D), IOTA/USD has received support from the 90-day Moving Average (MA90) and has rebounded: As can be seen from the chart, IOTA/USD has even just surpassed the 30-day Moving Average (MA 30). I consider this as a bullish signal because, now, both MAs will provide support for the price of the cryptocurrency.

Moreover, in the 1-hour chart (1H), IOTA/USD has exited the Descending channel:
That is another bullish signal. That's why, in my view, IOTA/USD is starting to resume the uptrend.

To be continued ...

As of the time of writing, one IOTA costs $1,4946 on the Binance crypto exchange, according to TradingView.

A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.

Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.

Check @crypto-guides to learn about the essentials of the major cryptocurrencies.

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